THE EUROPEAN CONCEPT FOR REPORTING ON ENTERPRISES REGARDING SUSTAINABILITY - KEY HIGHLIGHTS AND RECOMMENDATIONS

Radostina Bakardjieva

Abstract


The publication is dedicated to an extremely current and incompletely clarified problem in economic academic literature, related to the reporting of enterprises in relation to sustainability in economic, social and managerial dimensions. The key stakeholders required to provide sustainability information have been identified. The main criteria for achieving environmental and social sustainability based on compliance with internationally recognized standards are indicated. A parallel is drawn between the Directives of the European Union on the reporting of enterprises in relation to sustainability and, respectively, on the disclosure of non-financial information. Arguments are made that the new European directive is a new updated, renewed and in-depth version with an expanded scope of components taking into account climate change and the Green Deal. Recommendations to enterprises, institutions and the scientific community have been formulated.


Keywords


sustainability, information, stakeholders

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References


Directive 2014/95/EU of 22 October 2014 regards disclosure on non-financial and diversity information, European Commission

ILO Declaration on Fundamental Principles and Rights at work and its follow – up, ILO, 2010

OECD Guidelines for Multinational Enterprises, 2011, OECD

Overview and Recommendations for Sustainable Finance Taxonomies, 2021, International Capital Market Association

Proposal for a Regulation of the European Parliament and of the Council on the establishment of a Framework to facilitate sustainable investment, European commission, COM (2018) 353 Final

Regulation (EU) 2020/ 852 of 18 June 2020 on the establishment of a Framework to facilitate sustainable investment, European Сommission, 2020

Sustainable Stock Exchange Initiative, 2018 Report on Progress, UN . 2018, 85 p.

The UN Global Compact Operational Guide for SMEs, United Nation, 2007

UN Guiding Principles on Business and Human Rights, UN, 2011

World Investment Report, Investing in Sustainable Recovery, UNCTAD, 2021


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New knowledge Journal of science is financed by the National Science Fund of the Republic of Bulgaria - contract № КП-06-НП1/5 of 17.12.2019 in the competition of Bulgarian scientific periodicals – 2019

New knowledge Journal of science is financed by the National Science Fund of the Republic of Bulgaria – contract № ДНП 05/52 от 22.12.2016 in the competition of Bulgarian scientific periodicals – 2016

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